Philippine share prices close lower
MANILA, Philippines—Share prices pulled back Thursday, taking a break from a five-day rise that brought the main index to new record levels.
The main-share Philippine Stock Exchange index closed 12.92 points, or 0.25 percent, lower at 5,173.28, likewise weighed down by a weak regional sentiment ahead of a Spanish bond auction.
The financial, services, property and mining/oil counters ended in the red, while the industrial and holding firm counters managed to stay afloat.
Investors took advantage of high stock prices to lock up profits especially from blue chips, but many also took fresh positions on second- and third-liner stocks.
Despite the main index decline, 82 advancers edged out 69 decliners, while 52 stocks were unchanged.
Value turnover was thin at P5.5 billion from P7.5 billion reported the previous day.
Index stocks that succumbed most to profit-taking were Semirara, DMCI, Ayala Land and Metrobank.
On the other hand, the PSEi decline was tempered by the gains of Metro Pacific, Ayala Corp. and Aboitiz Power.
Security Bank, GMA Holdings and China Bank were likewise up.—Doris C. Dumlao
